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Higgs oversees upholstery chain reacquisition

21st February 2022

Higgs oversees upholstery chain reacquisition

A leading upholstery chain has returned to its original owners in a deal overseen by Higgs LLP.

Olvaso Limited has purchased the entire issued share capital of Arlo Living Limited from TCM Living Limited.

Managing Partner Nick Taylor led the Higgs LLP team on the Arlo & Jacob deal and was assisted by Business Services Associate Hayfa Hazem and Paul Hunt, Head of Business Succession Planning.

Other Higgs support was provided by Jayne Holliday (Employment), Sarah Bradford (Property), and Richard Ferguson (Tax).

Mark Smith, who has purchased Arlo & Jacob with his wife Julie Smith, said: “From start to finish, the whole team at Higgs made the process feel collective and personal and they were an extension of our own team.

“Their approach of having full understanding of our business and how it operates gave us confidence the end goal would be achieved.

“We are passionate about the reacquisition of Arlo & Jacob and Higgs understood every facet of detail about how the deal needed to be constructed to get the best result for the brand and the team.

“I worked with Nick five years ago and he and the team again worked tirelessly to craft a resolution that was well balanced for all parties.

“Paul listened and worked closely with myself and my wife on my exit agreement, our new shareholders agreement and articles and the whole team were a huge support.

“We were very grateful for the care and expertise shown.”

After an initial period of successful incumbency within the TCM Living group, both Mark and Pimol Srivikorn, the Chairman of TCML, felt that the businesses would be best apart.

Nick said: “We are delighted to have assisted Mark and Julie with their reacquisition of Arlo & Jacob. It continued a long-standing relationship and we wish them every success in the future.”

 

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